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Stocks / United States / SPGI / Q2 FY2023

S&P Global Inc. Q2 FY2023 results: revenue $3.1 billion, up 3.6% on the year

S&P Global Inc. (SPGI) reported revenue of $3.1 billion for Q2 FY2023, the quarter ended 30 June 2023, up 3.6% on the same quarter a year earlier. Net income was $511 million, down 47.4% on the year, and diluted earnings per share $1.60. The figures are the company's own, from the 10-Q it filed with the SEC on 27 July 2023.

Revenue$3.1 billionup 3.6%
Net income$511 milliondown 47.4%
Diluted EPS$1.60
QuarterQ2 FY2023ended 30 June 2023

The quarter, against the one before and a year earlier

LineQ2 FY2023Quarter beforeA year earlierChange on the year
Revenue3,101n/an/an/a
Cost of revenue1,026n/an/an/a
Gross profit2,075n/an/an/a
Gross margin66.9%n/an/a
Selling, general and administrative771n/an/an/a
Operating income911n/an/an/a
Operating margin29.4%n/an/a
Interest expense88.0n/an/an/a
Pre-tax income834n/an/an/a
Income tax259n/an/an/a
Effective tax rate31.1%n/an/a
Net income511n/an/an/a
Net margin16.5%n/an/a
Diluted EPS$1.60n/an/an/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow769n/an/an/a
Capital expenditure31.0n/an/an/a
Free cash flow738n/an/an/a
Free cash flow margin23.8%n/an/a
Depreciation and amortisation285n/an/an/a
Share-based compensation51.0n/an/an/a
Buybacks1,001n/an/an/a
Dividends paid288n/an/an/a
Dividend per share$0.90n/an/an/a
Diluted shares, weighted320mn/an/an/a
Shares outstanding at period end318mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2023Quarter beforeA year earlierChange on the year
Total assets60,695n/an/an/a
Cash and equivalents1,561n/an/an/a
Receivables2,545n/an/an/a
Goodwill34,827n/an/an/a
Long-term debt11,501n/an/an/a
Operating lease liabilities547n/an/an/a
Shareholders' equity35,468n/an/an/a

Quarterly results, the last 12 quarters

Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026
Revenue3,1013,0843,1523,4913,5493,5753,5933,7773,7553,8883,9164,171
Cost of revenue1,0269951,0321,1201,0851,0721,0841,1531,1191,1211,1701,235
Gross profit2,0752,0892,1202,3712,4642,5032,5092,6242,6362,7672,7462,936
Gross margin67%68%67%68%69%70%70%69%70%71%70%70%
SG&A7717419427057348089497648038051,045802
Operating income9111,0748911,3851,4521,4341,3091,5781,5511,6751,6742,002
Operating margin29%35%28%40%41%40%36%42%41%43%43%48%
Interest expense88.084.077.078.077.072.070.078.077.079.053.096.0
Pre-tax income8349957941,3161,3781,3601,2541,4961,5021,5981,6311,908
Tax rate31%18%19%19%21%23%23%22%23%21%25%21%
Net income5117425789911,0119718791,0901,0721,1761,1331,395
Net margin16%24%18%28%28%27%24%29%29%30%29%33%
Diluted EPS$1.60$2.33$1.83$3.16$3.23$3.11$2.85$3.54$3.50$3.86$3.76$4.69
Operating cash flow7691,0131,3349481,5561,4451,7409531,4451,5051,7481,037
Capital expenditure31.036.048.024.032.035.033.043.061.045.046.027.0
Free cash flow7389771,2869241,5241,4101,7079101,3841,4601,7021,010
Buybacks1,0015001,3005000.01,5011,3006506511,2002,5001,000
Dividends paid288286283286286282280295294291290288
Shares outstanding318m317m314m313m313m310m308m307m305m303m299m296m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2023, filed 27 July 2023, accession 0000064040-23-000159: the filing on EDGAR. All of S&P Global Inc.'s filings: EDGAR company page.

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